Intel Corporation today reported first-quarter revenue of $12.8 billion, operating income of $2.5 billion, net income of $1.9 billion and earnings per share of 38 cents. This is a dramatic drop from the company's fourth quarter results, with a drop of 26 percent in net income, with a drop of eight percent of the company's revenue.

The company's growth is suffering under the weight of the PC client group -- it posted revenue of $7.9 billion, down eight percent sequentially. The data center group fell to $3.1 billion, down five percent sequentially. The mobile and communications group plummeted to $156 million, down 61 percent year-over year.

Additionally, the company noted that it generated approximately $3.5 billion in cash from operations, paid dividends of $1.1 billion, and used $545 million to repurchase 22 million shares of stock.